Question 1 BUSINESS LAWA close relative is not regarded as third party for recovery against emotional distress.TrueFalse2 points

 

Question 2″One who waits too long to complain has indicated satisfaction with the agreement despite the initial lack of true consent” is the idea behind the doctrine of:2 points

 

Question 3A contract that is impliedly accepted by doing something that objectively indicates agreement can be considered as a bilateral contract.TrueFalse2 points

 

Question 4Fernando is the owner of Pick Food Restaurant. He makes an oral agreement with Purple Lotus Works for the design and production of 5,000 unique custom-made dinner plates with the logo of Pick Food Restaurant on them. Purple Lotus reworks its production schedule and creates dies to add Pick Food Restaurant’s logo in the designer plates. A week later, Fernando calls Purple Lotus and says that he no longer wants the plates and calls off the deal. In this scenario, it is most likely that:2 points

 

Question 5Both federal and state laws spell out the specifics of cybercrime. Which of the following statements is true of these laws?2 points

 

Question 6As used in the Uniform Commercial Code (UCC), the concept “reasonable”:2 points

 

Question 7A petition for Chapter 13 proceedings can be initiated by the:2 points

 

Question 8If a buyer accepts defective goods and wants to hold the seller liable, the buyer must give the seller notice of the defect:2 points

 

Question 9Commercial frustration:2 points

 

Question 10A is designed to reach things belonging to the debtor that are in the hands of third parties.2 points

 

Question 11Fungible goods are:2 points

 

Question 12Artisans who retain goods are liable for conversion if they:2 points

 

Question 13Common law arises when:2 points

 

Question 14Blue laws are uniform across all states in the country.TrueFalse2 points

 

Question 15Erik filed a case in a municipal court against Leela for a minor criminal violation. Dissatisfied with the decision of the court, Erik can now appeal the case in a court of record.TrueFalse2 points

 

Question 16Consideration can have legal value if the promisee:2 points

 

Question 17A party that enters into an illegal contract can recover the considerations given if the party:2 points

 

Question 18A common defense to the tort of interference with contract is:2 points

 

Question 19A building that deviates slightly from the contract’s specifications does not qualify as substantial performance.TrueFalse2 points

 

Question 20A counteroffer:2 points

 

Question 21A contract is implied when the parties directly state its terms at the time the contract is formed.TrueFalse2 points

 

Question 22A consumer who misuses a product:2 points

 

Question 23A conditional sales contract is an example of a(n):2 points

 

Question 24Assignments of future wages are not effective because:2 points

 

Question 25Bella is Ming’s babysitter. She takes Ming to the amusement park for a roller coaster ride. Due to the intensity of the ride, Ming, who has an especially weak heart, dies of a heart attack during the ride. Which of the following concepts best fits Bella’s act of negligence?2 points

 

Question 26If Gwen hands Lisa a detailed offer for the purchase of Lisa’s pottery wheel and Lisa signs the offer without changing any of its terms, the parties have created a:2 points

 

Question 27A buyer is considered to have accepted a whole commercial unit of goods if:2 points

 

Question 28A clothing store has opened a credit account in which Judy, a college student, gets Alice, her older sister, to agree to pay the amount owed on the account if Judy fails to do so. Which of the following statements is true of this scenario?2 points

 

Question 29Beck tells his mom that he is thinking of selling his vintage coupe to his neighbor, Sam, for $100. Beck’s mom calls Sam and tells him about her conversation with Beck. Sam then calls Beck and tells him that he accepts his offer. Under these circumstances, .2 points

 

Question 30According to the Fair Credit Billing Act (FCBA), if the credit card holder thinks that the card issuer has made an error on the statement, he has .2 points

 

Question 31A buyer is if he cannot pay his bills when they become due.2 points

 

Question 32Blackhawk Corporation contracted to sell Greeneye Corporation some materials that Greeneye needed to fulfill a contract it had with a third party. Knowing that Greeneye was in desperate need of the materials, Blackhawk called Greeneye the day before delivery was due and threatened to withhold delivery unless Greeneye agreed to pay a higher price. Greeneye could not get the materials elsewhere and would suffer a huge financial loss without them, so it agreed to pay the higher price. Greeneye later asserts that its promise to pay the higher price is unenforceable because it was the product of duress. Which of the following statements is true of this situation?2 points

 

Question 33A corporate manager looking for ethical guidance that neither the law nor social norms accounts for must rely on:2 points

 

Question 34Corporations have long been considered “persons” protected by some constitutional guaranties.TrueFalse2 points

 

Question 35A young American woman named Monica killed her illegitimate child and buried the body in her backyard. Many years later, Monica called Claudio, the local policeman, and told him the entire story over the telephone before he could utter a single word. She then told him that voices from her backyard told her to confess to the crime. Monica told the police where to dig, and they unearthed a metal box containing the skeletal remains of a baby in her yard. Which of the following statements would be true of this scenario?2 points

 

Question 36Identify the statement that is true of perfection by attachment of consumer goods.2 points

 

Question 37A liquidated debt is one that is due and certain, which means that there is no dispute about the existence or the amount of the debt.TrueFalse2 points

Question 38If a person has been discriminated by the government on the basis of the fact that he or she is an illegitimate child, the regulation will be evaluated under .2 points

 

Question 39Compensatory damages are also known as:2 points

 

Question 40A minor can disaffirm a contract if:2 points

 

Question 41Campus Bus Service entered into a contract with Smith Bus Company to purchase 10 buses. One week before Campus Bus was scheduled to receive the buses, a fire destroyed Smith’s warehouse and the buses inside. As a result, Campus Bus had to purchase its buses at a slightly higher cost from another manufacturer. Campus Bus sues Smith Bus for damages for breach of contract under these circumstances. Assume Campus Bus did not bear the risk of loss of the goods under the contract. In this scenario, .2 points

 

Question 42If a creditor owns a debt that is provable and nondischargeable, he or she .2 points

 

Question 43A useful tool for understanding and persuading that combines basic analytical thinking with recognition of the special features of the underlying legal system is .2 points

 

Question 44A buyer has a retail store in Florida and the seller is a manufacturer in California. If the buyer orders goods from the seller and the goods are shipped “FOB Florida,” which of the following statements is true?2 points

 

Question 45Corporate codes of ethical conduct:2 points

 

Question 46Arbitration of disputes under the purview of “lemon laws” under state statute is:2 points

 

Question 47Beck Inc., a food processing company in Chicago, placed a phone order with Gary, a vineyard owner in California, for a certain quantity of perishable products. The shipping term was “CIF” with payment to be made on delivery. Gary contracted with a carrier to deliver the goods to Beck Inc. However, he neglected to ship the goods under refrigeration. The goods were loaded on a non-refrigerated boxcar and as a result the product was spoiled when it reached Chicago. Under these circumstances, .2 points

 

Question 48Chuck Olson, aged 16, buys a used car from Bobby Duncan Used Cars Center on September 15, 2006. Olson agrees to pay $200 a month for 12 months. A month after the purchase, Olson is involved in an accident that wrecks the car. He immediately calls Duncan Cars and informs them that he is disaffirming the contract. According to traditional common laws, which of the following is most likely to be true?2 points

 

Question 49A donee beneficiary:2 points

 

Question 50A common law lien essentially includes: